From a broader perspective, the Maker (MKR/USD) The market was in a downtrend as it continued making lower lows along the line. The candles representing each daily trading session indicates a major struggle or confrontation between bulls and bears. The struggles continued to yield slight gains for any of the players in the market. However, as the market advanced in September, the bulls made a sporadic strong bullish impulse in the market that made the market move almost in a horizontal line. This means that the upward force was increasing as the month went on. Towards the end of the month until October, they became stronger than the bears. They are now making upward upward progress in prices.
Maker market price statistic:
- MKR/ Price in US dollars now: 829.70 dollars
- MKR/ Market capitalization of the US dollar: 810.499687 dollars
- MKR/ circulating in USD: 977.631
- MKRTotal supply in USD: 977,631
- MKRUSD/Currency Market Ranking: #55
Resistance: $919.47, $1,000, $1,050
Support: $684.23, $535.32, $500.00
Your capital is in danger
maker Market Price Analysis: An Indicators View
A very important candlestick pattern that announced the approach of the uptrend that was formed on the 21st and 22nd of September. After forming a bullish engulfing pattern, the market started an upward trend. The bulls have gained a bit more power than the bears and they are making headway with it. MACD has been moving on the positive side since September 22nd. However, the charts show that the bullish strength is not impressive. The tops of the charts are flat along the line because it doesn’t make much difference in the height as the market progresses. Although the bullish charts are not showing much strength in the momentum, the RSI line is on the verge of breaking out of the subzero level.
MKR / USD 4 Hour Chart Forecast
The bears became active again towards the end of the first session because the price entered the overbought zone. As a result, he makes a corrective correction of the price from the overbought. This led to a price pullback that extended into the 2 o’clock position as traders continue to sell.
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